After updating to current 2.6 kernel, udev, and hotplug,
on boot the system time seems to get set to UTC
( off by several hours ) even though the rc.d script should
set it to local time, and in fact on boot up the message
(paraphrasing)
"Setting system time from the hardware clock (local time)"
is stated. I found if I run the same rc.d command again:
( paraphrasing again for the hwtosys if I misspelled it )
hwclock --localtime --hwtosys
I get the correct time again.

From reading some other posts, is it possible this might
have something to do with the order of loading of udev
and the rtc module? I have no idea.